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Analysis

Why It's So Difficult to Discern Where Office Use Will End Up

Some studies say not to worry, but when big companies cut their office footprint, it’s hard for CRE pros to stay calm.

It was just the other day that the Federal Reserve Bank of New York told CRE people in the office sector not to get overly worried. Although remote work was clearly here to stay to some degree, the amount of workspace in greater New York City was stable.

Just one problem: not all large tenants are buying it. As the Wall Street Journal reported, there are big companies taking additional looks at office usage because they’re concerned about an economic downturn and whether they need to spend at their current rate for space they might not need.

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Erik Sherman

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